在生产组织形式和奶牛养殖规律等共同作用下，我国原奶行业的周期性较强，本轮周期中奶价已持续下滑超过3年（21年至今）、调整时间较长（上两轮周期中奶价下滑均少于2年），奶价下跌幅度较大，需求平淡使得供需错配加剧，叠加上下游绑定加深，全产业链盈利能力普遍受损。本文从原奶周期复盘中，探寻奶价变动规律，并对当前的现状进行推演，辨析产业新趋势，由此展望企业的未来经营、把握乳制品行业的投资机会。不同于市场的观点...
Source Link在生产组织形式和奶牛养殖规律等共同作用下，我国原奶行业的周期性较强，本轮周期中奶价已持续下滑超过3年（21年至今）、调整时间较长（上两轮周期中奶价下滑均少于2年），奶价下跌幅度较大，需求平淡使得供需错配加剧，叠加上下游绑定加深，全产业链盈利能力普遍受损。本文从原奶周期复盘中，探寻奶价变动规律，并对当前的现状进行推演，辨析产业新趋势，由此展望企业的未来经营、把握乳制品行业的投资机会。不同于市场的观点...
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